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Strike Resources (ASX:SRK) gets tick of approval from PKKP
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  • Strike Resources (SRK) says the Puutu Kunti Kurrama and Pinikura People (PKKP) have approved a Native Title Mining Agreement and State Deed for its Paulsens East Iron Ore Project
  • The PKKP are the Traditional Owners of the land where the project is located in the Pilbara region of Western Australia
  • Receiving this approval marks a major milestone to progress the development of Strike's Paulsens East Iron Ore Project
  • Strike will now lodge the State Deed with the Department of Mines, Industry Regulation and Safety to be granted a mining lease
  • Once this occurs, Strike will then submit its formal mining proposal so construction and operations can begin
  • Company shares are up 50.7 per cent and are trading for 11 cents

Strike Resources (SRK) says the Puutu Kunti Kurrama and Pinikura People (PKKP) have approved a Native Title Mining Agreement and State Deed for its Paulsens East Iron Ore Project.

The approval was given by PKKP representatives at a PKKP Community Authorisation Meeting held on Friday, August 14.

The PKKP are the Traditional Owners of the land where the project is located in the Pilbara region of Western Australia.

Receiving this approval marks a major milestone to progress the development of Strike's Paulsens East Iron Ore Project.

"I would like to thank the PKKP and its representatives for their continued support," Managing Director William Johnson said.

Specifically, the Native Title Agreement allows Strike to conduct mining activities at Paulsens while focusing on minimising any impacts on Aboriginal Cultural Heritage.

The Native Title Agreement also grants the PKKP certain financial and business development benefits. These include an annual payment based on the value of iron ore sales (of between 0.5 to one per cent, subject to the price of iron ore sales achieved), an annual training and development allowance, as well as opportunities for PKKP members to be contracted for support works at the project.

The State Deed will now be lodged with the Department of Mines, Industry Regulation and Safety (DMIRS) after which Strike expects the DMIRS to formally grant a mining lease.

Once the mining lease is granted, Strike will submit a mining proposal to the DMIRS for the issue of a mining permit so mine construction and mining operations can begin.

Strike is advancing a feasibility study for the Paulsens East Iron Ore Project and is targeting production of 1.5 million tonnes per annum of lump and fines ore for an initial mine life of four years, starting from next year.

Company shares are up 50.7 per cent and are trading for 11 cents each at 2:26 pm AEST.

SRK by the numbers
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